RBI Report on Trend and Progress of Banking in India 2007-08
Indian banks do not have financial exposure to the U.S. sub-prime assetsThe adverse global developments have led to moderation of growth in the industrial and services sectors in the first-half of 2008-09. In recent weeks, “the impact on liquidity and credit has also been felt.”
“The global financial situation described the worst since the Great Depression, continues to be uncertain and unsettled. At present it is difficult to speculate about the trajectory of global downturn and its consequent fallout for the Indian economy,” the RBI cautioned. The financial sector in India is sound and healthy, the RBI stated adding, Indian banks do not have financial exposure to the U.S. sub-prime assets.
To read more, please, visit - The Hindu : Emphasis on financial stability
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